National Bank of Canada FI Reduces Holdings in CSX Co. (NASDAQ:CSX)

National Bank of Canada FI reduced its holdings in shares of CSX Co. (NASDAQ:CSX) by 9.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,431,793 shares of the transportation company’s stock after selling 154,048 shares during the period. National Bank of Canada FI’s holdings in CSX were worth $46,209,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in shares of CSX in the 4th quarter worth $31,000. Sierra Ocean LLC purchased a new stake in CSX in the fourth quarter worth about $33,000. Center for Financial Planning Inc. raised its stake in shares of CSX by 205.7% in the fourth quarter. Center for Financial Planning Inc. now owns 1,070 shares of the transportation company’s stock worth $35,000 after buying an additional 720 shares during the period. Meeder Asset Management Inc. lifted its position in shares of CSX by 216.2% during the 4th quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company’s stock valued at $35,000 after buying an additional 746 shares in the last quarter. Finally, Atala Financial Inc purchased a new position in shares of CSX during the 4th quarter valued at about $36,000. 73.57% of the stock is currently owned by institutional investors.

CSX Price Performance

Shares of CSX opened at $29.74 on Thursday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The company has a 50 day moving average price of $31.54 and a 200-day moving average price of $33.12. CSX Co. has a fifty-two week low of $28.78 and a fifty-two week high of $37.10. The stock has a market capitalization of $56.05 billion, a PE ratio of 16.61, a PEG ratio of 1.92 and a beta of 1.22.

CSX (NASDAQ:CSX) last posted its earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.02). CSX had a return on equity of 28.15% and a net margin of 23.95%. Equities analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.

CSX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from CSX’s previous quarterly dividend of $0.12. CSX’s payout ratio is 29.05%.

Wall Street Analyst Weigh In

CSX has been the subject of a number of analyst reports. Stephens reissued an “overweight” rating and issued a $38.00 price objective on shares of CSX in a research note on Friday, January 24th. Loop Capital lowered CSX from a “buy” rating to a “hold” rating and cut their price target for the stock from $40.00 to $34.00 in a research note on Monday, February 3rd. UBS Group lowered their price objective on CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft started coverage on CSX in a research report on Friday, March 7th. They set a “hold” rating and a $34.00 target price for the company. Finally, Jefferies Financial Group raised CSX from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a report on Friday, January 10th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $36.20.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.